On 16 March 2022, Taiwan’s Ministry of Finance (MOF) issued a press release where it is stated that the controlled foreign company (CFC) rules will be effective from 1 January 2023 for individuals and 2023 taxable year for companies.
Related Posts
Taiwan: Instalment payment for overdue tax cases under enforcement
Taiwan's Ministry of Finance has issued a notice regarding the option of instalment payments for overdue tax cases that have been referred for enforcement on 20 November 2024. The National Taxation Bureau of Taipei, Ministry of Finance, stated
Read MoreTaiwan: Ministry of Finance issues guidelines for businesses changing to a special fiscal year
Taiwan's Ministry of Finance has released a notice outlining the requirements for businesses transitioning from a calendar year to a special fiscal year, including stipulations for tax returns and retained earnings on 12 November 2024. The
Read MoreTaiwan, UK sign enhanced trade partnership arrangement
Taiwan Representative to the United Kingdom Amb. Kelly Wu-chiao Hsieh and Representative of the British Office in Taipei John Dennis, representing the Executive Yuan’s Office of Trade Negotiations and the UK Department of Business and Trade signed
Read MoreTaiwan mandates reporting obligations for income not subject to tax withholding
Taiwan's Ministry of Finance has issued a notice mandating the submission of Non-Withholding Tax Statements for payments that are exempt from withholding on 4 November 2024. The tax withholding system aims to supervise and urge tax withholders to
Read MoreTaiwan clarifies conditions for declaring business expenses, losses
Taiwan's Ministry of Finance has released a notice outlining the general conditions for declaring expenses, losses, and business-related expenses or losses on 4 November 2024. The expenses or losses filed by profit-seeking enterprises should be
Read MoreTaiwan issues new tax calculation guidelines for foreign companies
Taiwan's Ministry of Finance has released notice for foreign companies on applying the net profit ratio and domestic profit contribution ratio to calculate taxable income and withholding tax before receiving payments for services or business profits
Read More